Banks must maintain an ____________ adequate to absorb estimated credit losses from payday loans. Banks should evaluate the collectability of accrued fees and finance charges on payday loans and ensure that this income is appropriately measured.
Banks must maintain an Allowance for Loan and Lease Losses (ALLL) adequate to absorb estimated credit losses from payday loans. This practice ensures that banks are prepared for potential losses associated with the high-risk nature of payday lending and that they accurately report their financial condition by appropriately measuring income from accrued fees and finance charges on payday loans.
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Cam22
6 months, 3 weeks agoJessyJazz24
12 months ago